Some New York sports bettors may have already seen for themselves, but Bally Bet has stopped accepting sports wagers in the Empire State. This is due to the recently announced suspension across the country, as the operator will shut down its online platform, in order to integrate technology from Kambi. The company said it will be offline for a few months.
Bally Bet was the last sportsbook to go online in the Empire State’s mobile sports betting market, as it did so in July 2022. Since then, it generated US$15.5 million in wagers with just US$849,228 in gross revenue. In order to operate in the state, it paid US$25 million for a license, and with that pace, the company would not have broken even until 2050.
App Will be Off for a Few Months
In a recent press release, the company announced that it will officially go offline in New York and other states after June 30, 2023. The sportsbook stopped taking bets on June 22. It also urged players to withdraw their funds until the end of the month. The company will also mail a check to the address attached to everyone’s account to inform them.
It its website, the company explained that the downtime will be used to elevate its betting experience in the next several months. CEO of the company, Robeson Reeves, explained the addition of Kambi and White Hat Gaming will help the operator become optimally positioned to achieve significant scale and take a larger share of the global gambling market.
The sportsbook asked customers to withdraw everything from their accounts before June 30, 2023, as after that players will be unable to access their accounts. If there are customers who fail to withdraw it, the company will mail them a physical check with the funds to the account linked to their online profile. Funds will also not be transferable to the new version of the app.
Moreover, the company will be deactivating all accounts on June 30, 2023. After the new app becomes available, all customers should sign up again for it. It is expected that the sportsbook will restart work across North America later this year, and will debut on a state-by-state basis. With rumours of first going online in August in Ohio.
It seems natural for Bally to seek a rework of its betting experience as the company did not have success in New York. It was often that the company posted negative results on the weekly time frame. For the week of November 13, 2022, the company was the only one to suffer a loss for the week. Meanwhile, the nine operators recorded gross gaming revenue of US$31.3 million.
Seeking Land-Based Expansion Too
But in addition to online sports betting in New York, the company has also expressed interest in one of the downstate casino licenses. This February, it revealed its intention of acquiring a license to launch a commercial casino in The Bronx which would be in near proximity to the Trump Organization’s public golf course at Ferry Point.
